Fresh thinking needed to keep Big Tech in check

By the Financial Times Editorial Board The Federal Trade Commission’s $5bn fine for Facebook — assuming it is approved by the Department of Justice — is both eye-catching and sets a new record. The 2 per cent rise in Facebook shares after it was reported shows how little impact the market believes it will have […]

Switzerland: Libra regulator says Facebook hasn’t reached out

Switzerland: Libra regulator says Facebook hasn’t reached out

The Swiss regulator that Facebook claimed will oversee its cryptocurrency hasn’t heard from the social media giant, according to a report by CNBC. David Marcus, who is heading up the Libra project for Facebook, testified in front of the Senate Banking Committee on Tuesday, July 16, and said, “For the purposes of data and privacy […]

US: FTC reportedly approves $5B settlement with Facebook

US: FTC reportedly approves $5B settlement with Facebook

The Federal Trade Commission (FTC) has reportedly approved an approximately US$5 billion settlement with Facebook (FB), suggesting a lengthy investigation into the social media company’s data privacy practices could be nearing an end. The FTC is said to have voted 3-2 in favor of the settlement, along party lines, The Wall Street Journal reported on […]

Germany: Bundeskartellamt publishes English version of the Facebook decision

Germany: Bundeskartellamt publishes English version of the Facebook decision

On Thursday, July 11, the Bundeskartellamt published the English version of the Facebook decision prohibiting Facebook from combining user data from different sources. At the time of the decision in February 2019, Andreas Mundt, President of the Bundeskartellamt stated: “With regard to Facebook’s future data processing policy, we are carrying out what can be seen […]

US: Facebook, Google, Apple and Amazon said to testify at Congressional antitrust hearing next week

Representatives from Facebook, Google, Apple and Amazon will be appearing at a hearing with US House Committee on the Judiciary next week to discuss antitrust issues, according to a reports by Politico and The Washington Post. The Post reported that the companies will be sending legal and policy executives, including Kyle Andeer, Apple’s vice president […]

US: White House snubs Facebook at social media summit

Facebook said that it has not been invited to the White House’s social media summit being held later this week. White House spokesman Judd Deere announced last month the meeting would “bring together digital leaders for a robust conversation on the opportunities and challenges of today’s online environment,” and recently said that President Donald Trump […]

US: Facebook prefers more regulation over breakup

US: Facebook prefers more regulation over breakup

According to a report from Reuters, Facebook dismissed calls for a break-up of the world’s biggest social network and other big internet companies on Monday, June 24, stating this would not tackle issues such as privacy, attempts to influence elections or harmful content. “Just because it is difficult to regulate the internet doesn’t mean policy […]

US: Regulators press Facebook for answers on Libra

US: Regulators press Facebook for answers on Libra

News of the launch of Facebook cryptocurrency Libra has highlighted how the US government will respond to the introduction of new digital currencies. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. On Wednesday (June 20), Fed chairman Jerome Powell said […]

India: Facebook to buy stake Meesho marketplace

India: Facebook to buy stake Meesho marketplace

Social media company Facebook is going to buy a stake in Meesho, an Indian eCommerce startup that connects people re-selling a variety of items with potential buyers on other platforms, according to a report from Reuters. Citing Ajit Mohan, the head of the Facebook’s Indian business, said the move is to extend the tech company’s […]

1 2 3 13